Stock futures pointed to a higher opening for Canada's main stock index ahead of the Bank of Canada's rate decision announcement due later in the day.
The S&P/TSX composite index was positive 152.36 points, or 1.1%, to close Tuesday at 13,630.67
The Canadian dollar eased 0.2 cents to 75.50 cents U.S. early Wednesday
Bombardier has turned down a Chinese offer to buy up to 100% of its prized rail unit, documents seen by Reuters show, underscoring its reluctance to cede control of the unit to a state-owned Chinese buyer at this juncture.
Beijing Infrastructure Investment Co, a government-owned company that operates 18 metro lines in China's capital, had offered to acquire between 60% and 100%of Bombardier Transport, an Aug. 14 letter reviewed by Reuters outlining BII's offer showed.
Goldcorp Inc on Tuesday cut its 2015 production forecast for its newest mine, the Eleonore gold mine in Quebec, because higher-than-expected "folding" in the underground rock has resulted in lower gold grades.
Goldcorp said it now expected Eleonore to produce between 250,000 and 270,000 ounces of gold this year. It previously said Eleonore was expected to produce "at or below 290,000 and 330,000 ounces of gold".
Manulife Financial Corp is nearing a deal to buy British bank Standard Chartered's Hong Kong pension business for about $400 million in an attempt to narrow the gap with its leading rival.
Barclays raised the target price on North West Company to $26.00 from $25.00, saying the stock have experienced the strongest rally among Canadian Consumer Staples stocks over the last three months.
Canaccord Genuity initiated coverage on Pure Technologies with a buy rating and $8.00 target price, consider the company an excellent vehicle for investors desiring exposure to a $6-billion infrastructure renewal market.
On the economic front, Statistics Canada reported that building permits issued by municipalities edged down 0.6% to $7.7 billion in July, following a 15.5% increase in June.
Lower construction intentions in the non-residential sector, mainly in Ontario and Alberta, accounted for much of the decrease at the national level.
A report from Canada Mortgage and Housing Corporation revealed that housing starts showed the seasonally adjusted annualized rate of housing starts jumped to 216,924 in August from an upwardly revised 193,253 units in July. Forecasters had expected 190,000 starts.
ON BAYSTREET
The TSX Venture Exchange remained higher 4.01 points Tuesday to 556.62
ON WALLSTREET
U.S. stock futures are all up by just over 1%, picking up the good vibes left by Japan’s sudden rally.
Ahead of the opening bell, futures for the Dow Jones Industrials hiked 170 points, or 1%, to 16,622, futures for the S&P 500 gained 17.5 points or 0.9%, to 1,952.25, and futures for the NASDAQ sprang up 47 points, or 1.1%, to 4,345.50.
Apple shares are rising by about 1.3% pre-market as investors prepare for a highly anticipated product event, which begins at 10 a.m. PT (1 p.m. ET) in San Francisco, and speculation about new products and offerings has been rampant.
Many expect the biggest news will surround an updated Apple TV. The company is also due to update its iPhone line and could unveil a bigger iPad.
Shares in Yahoo are declining by about 2.6% pre-market after the company said its planned spinoff of a big stake in Alibaba had hit a roadblock.
Yahoo told investors that the IRS rejected its request for a special tax ruling on the Alibaba deal, which was supposed to save investors huge sums of money.
Barnes & Noble is one of the key companies reporting quarterly results before the market opens. Quiksilver and Krispy Kreme are among companies expected to report after the close.
Investors around the world are marveling over Japan's huge one-day rally, with the Nikkei 225 index closing up 7.7%. This is the index's biggest leap in a session since October 2008.
Many are speculating about the reason behind the surge, but there's no clear-cut answer.
In early trading, all European markets were rising by nearly 2% and all key indexes in Asia locked in solid gains.
Oil prices slipped 40 cents to $45.54 U.S. a barrel
Gold prices docked two dollars to $1,119 U.S. an ounce.
